The size of the European Nucleic Acid Labelling Market is estimated to be growing at a CAGR of 8.25% during the forecast period. The market size is projected to be worth USD 682.4 million by 2027 from USD 459.1 million in 2022.
The European market for Nucleic Acid Labelling is growing owing to the increase in the utilization of nucleic acid-based diagnostics for disease risk management and escalating preference for personalized medicines that offer tailor-made therapies to individual patients. Also, increasing healthcare expenditure and increasing funding for the research in genomics research is driving the market growth. In Addition, increasing demand for personalized healthcare, rising disease diagnosis, and government initiatives boost market growth during the forecast period. Furthermore, increased incidence of synthetic genome design through different technologies available in the biotechnology field is projected to fuel market growth. Moreover, increasing investment and funding by the government and non-government organizations for the healthcare infrastructure facilities in the region is expected to boost the market growth.
On the other hand, the proliferation of chronic diseases leads to diabetes and other cardiovascular diseases and patient demand for personalized medicine in the developed countries such as Germany, UK, and Spain.
In the field of genetic medicine, the rising demand for personalized therapy has generated great potential. However, to take advantage of these prospects, new technologies must be created, which has resulted in the market's fast development. As a result, the nucleic acid label is expanding due to a growing emphasis on personalized medicine and a patient-centered approach.
The genomes of many species, from bacteria to humans, have been entirely sequenced owing to the remarkable advancement of sequencing technology. However, the recent introduction of Next Generation Sequencing (NGS) technologies, which previously followed conventional capillary sequencing methods, has drastically increased the sequencing pace.
The European Nucleic Acid Labelling Market is majorly restrained by the factors such as scarcity of skilled professionals in the sector. However, high costs and complexities related to the techniques are impeding market growth.
This research report on the European Nucleic Acid Labelling Market has been segmented and sub-segmented into the following categories:
By Labelling Technique:
By End Users:
Geographically, the European Nucleic Acid Labelling Market is the fastest growing market globally. Europe held the second most significant growth over the forecast period. The regional market growth is attributed to the availability of advanced healthcare infrastructure facilities in the region, evolving healthcare sectors, and awareness among the people about health and healthcare issues. The penetration of nucleic acid labels is expected to increase throughout DNA microarrays, bolstering market growth from 2020 to 2027. The presence of emerging countries such as Germany, the UK, France, Spain, and Italy significantly contributes to the regional market expansion over the years.
Germany dominated the Nucleic Acid Labelling Market and accounted for a significant market share due to the rising demand for personalized medicine and the adoption of advanced technology in the healthcare sector.
On the other hand, the UK is most likely to witness significant market share during the forecast period. An increase in health awareness of health and healthcare concerns has a beneficial influence on the market. The expansion of the nucleic acid labeling market is also due to improvements in synthetic genome design technologies.
However, the Countries such as France, Spain, and Italy are projected to account for a moderate share and contribute to the regional market growth. As a result, these nations have seen a rise in inter-regional collaborations among key entities. These partnerships are primarily aimed at improving nucleic acid profiling services and genomic research in European countries.
KEY MARKET PLAYERS:
A few prominent companies operating in the European Nucleic Acid Labelling Market include Thermo Fisher Scientific, New England Biolabs, PerkinElmer, F. Hoffmann La-Roche AG, General Electric Company, Merck KGaA, Enzo Biochem, Promega Corporation, Vector Laboratories, and Agilent Technologies.
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